Arizona weekly citizen., 1887-02-26
THE CONTRACT
'he Hoard Of Supervisors and riNona Narrow Gauge Rail road gufnn.nx

| wood, the County Treasurer of said
 county. parties of the first psrt. and tba ] Arizona Narrow Gauge Railroad Com. pae!' corporation incorporated under the IaWs of the Territory Of Arizona.
 and ao!ng business as sucn io ea,d Ter. rltory, and W. W. Walker of Cecar
 Rapids. Iowa. by his a.torp.y ip fact.
 Chas. t. Walker, parties Of ,he second
 part, Witnesseth:
 That, whereas, the legislature Inf tbe Territory of Ariz9na dii at it's session ID tue year 1883, pass an act entitled An Act Co Promote the Construction of n Certain Rlilroad," ." which cad act wss approved Fearuary 2ls., 1883. and bv winch said sci, among other things. i. is p'oyld d that the said Board of Sup
 e5v.soEs and County Treasurer. sbould
 cpon certain conditions x chang. honda
 ot said County O! Pima, to ths ex.en.
 1.-two hundred thousand l290000) dol
 lars with tho said Arizona Marrow
 Gauge Railroai Company, one Of the
 parties Ci the second par.. f,r l1..
 amount oi said railroad comoayy's
 ooGds-the bonds Of said couuty ana
 t1ose ot said railroad company to bear
 l hke rate interest, and payable at the l same time; aud ii is farther provided |
 ll saiI act that the sad Board of Sup |
 er'lsor5 may. whenever m their jnio- l ! melt lt ls deemed Rdvi ole s1 to do | l teil and au norlZs tbe sale of any and |
 al of said railroad bonds received by
 S.li county in exchange as aforesaid.
 a-d Co make surh sale m the mguner ! prescribed in Secuon six (6) Of sad sct. l And whereas, there has been exchaDc-
 cd n the manner provided m sgid ee,
 one hundred and fifty thousand QJO.- | tuO) dollars of sad bonds. and saii | county iS nov the owner and holder of | saIi amount of said railroad bonds eo
 exchanged, aud that there are how m
 tle hands of sad Treasurer of said
 county an additional fifty thousand | (JUOJUD dollars of the londs of said
 county to be hereafter exchanged for
 a like amount of ssii railroad com psny's bonds upon said railroad com pauy, one ot said parties of the second part fully complying with the p-ovis-
 ions Of ssld act or said Legislature.
 And, whereas, the Board of Super
 yisOrs of said county, m theIr jGdy-
 ment, deemed it advisable to sell said
 bonds held by the said county, as Gtors-
 said, and did in pursuance of their saii judgment. on the a0;h day Of November. 5
 lS>6, by resolution IF due form entered ,
 upon their minutes, and in pursuance Of ( the provisions of said Section six .Gi, ( authorize and direct the Treasurer of a sad county to advertise In q newspaper
 published n said county, f"r serlcd pro-
 pcsels for the sale of all Of the said
 railroad bonds.
 And, whereas. said Treasurer did on
 the filth (jth) day Of January. lSS7, for the full period oi four weeks, duly ad-
 yeTtige for such seRled proposals in the Arizona Daily S.ar, Q newspaper pub lIs-hed IL the City Of Tucson and iu sad county.
 And, whereas, the said railroad com. pany, one Of the parties of the second part, did on the thirty-irst l3lst) day of January, 1887, propose by its sealed proposal In writing. tO sad Treasurer and Board of Supervisors. to purchase all Of said railroad bonds in the hands of said Treasurer, amounting to the sum of enc hundred and lf.y thousand lj0,O0Oj dollars. and to pay therefor twenty IT five 25) cents on the dollar in bonds of said County at par, and also to pur- chase sad remaining fifty thousaud .JO,g0D dollars Of bonds hereafter to be d exchanged as aforesaid, and Es herein e, after provided, upon the same terms n, ana ct the same price; and In addition ] = tn .etO. and Gs e further c0nsliera- ton for all of s8Id bonds so proposed to l s' be purchased as sioresaii. Co buili and h pu 10 operation sixty tGO) milts of the tr sall Arizona NarrrOw Gauge Railroad | =, nov n -oIrse of c1ns.rlrtIon by the o parties of the second part from the VI Clty of IUcsD1 Ia @ uur'hsriy direction. 10 n The nov pTg psseG route, and .0 tur8 n, the majority of the trade of ;te town l - 1i 4l)hs I'd saIi Cl'y Oi iuc 01, and tO ' SEQ ..0 all .-li =uI tltugs within eighteen J ls months from the dat n srelf; and that all of sHii one huldral ald fifty tt thousand (l50OaO da liars O: bonds be- - ion-in. 10 saId County sa-i remain m '" tbe hands of the County Treasurer as ol they nov are, and continue Co draw in q .cTest Es they nov do. which interest l .L 7hsil belong Co sad County, and that nothing n th.Ir said proposal or con D" tract shall prevent sa;d County from en. re forcing all of the rights r now has m A e6se sand interest is nOt psli pro ;' yIded iu sad bonds, duill sand bonds 'o -laI be fully paid for in tho manner tl lad time gfOre esaid and hereingtteT lr-eai.
 Now. tEeretoye, in consideration oj the H pr misrs aforesaid, and the griss tO ue r paii therefor as aiOresEIi. said psruss IT Df the firs. part do hereby agree 10, and o io et T to the party of the second part, y' lli of the said one huEGrei a8d iitiy e' hn sand 150,0JOJ dollars of sad bO1Is, ! i now held by sand County. sni IT the il lgnds of said County Treasurer as si aforesaid, and agree to sell tho ai1r-- 2, ,Bid fifty thousand (j0.Ojol dollar ui ol iaii railroad bonds which are hereafter n 10 come into the hands ot sad Treas hl lrer ns 8foresaId, to the party of tda g ;ec9ud part. upon the following term= a' and conditions. 10 wit:-For the sum of n .wsnty-five t25l cents on the dollar, to II Ds paid for IT the bonds of said County sl ,t par, and for tbe further consideration , hat is to gay, that tH- s7ii party of the . ,ecoud part, shall and will. as a part of M inc purchase price of said bonds so sold l al and proposed to be sold Hs aforesaid, Q, xithin eighteen months from the date p hereof. build and put in operation sixty C. GO miles of the aforesaid railroad from D he sald City of Tucson as aforesaid. and l ,r .uru the majority of the trade ot Globe, l Gna County, Arizona Territory to the s' sail City of TucsoD ss aforesaid. 2
 And the said railroad company one | Q of tha party of the second part. hereby o' sprees and binds itself and i-s succes- sors to pay tO the Treasurer of said | I County of Pima said twenty-five cents V on the dollar for all of inc said bonds now :. or hereafter in hIs hands. to the extent of l' VI hundred thousand l2CO,OOO) dollars, P and to make said payment m the boude .. of said Pima County at par, and also Co ' l,uiI ] and put ia operation said Narrow V Gauge Railroad along the proposed l = -o1,e for the fnll distsuee of sixty tbD miles northerly from tie City oi tucson tt and |, turn the majority oi the tFady U from Globe over said !rOad Go sad ., Catv of Tucson, and to operate the sali !. Toai and to turn sad trade and make s sad payment within eighteen llol months from the date hereof. D
 And it Is agreed by the parties hereto p that sad one hundred and hity thGn- d
 r-n nDDl .g,1io-e oF bnpf4s now be- a